Burberry sales continue to rise in Asia
Burberry sales in Asia rose “by the mid single digits” in the three months to year end, as the company reported a modest 2 per cent same-store improvement gobally.
Asia Pacific was the strongest performing market for the UK-headquartered luxury retailer, with Mainland China leading the way. Hong Kong sales were “broadly unchanged” year-on-year despite an improvement in domestic trend.
“Korea saw a better performance from both domestics and tourists, although sales still declined slightly,” the company said.
“We are making good progress embedding our strategic vision into the organisation and remain on track to meet our full year profit target,” said CEO Marco Gobbetti, in a short statement.
“We are building on strong foundations and are fully focussed on the successful delivery of our multi-year plan to position Burberry firmly in luxury and deliver long-term sustainable value.”
Sales in Europe, Middle East, India and Africa decline by a low single digit figure, impacted by unusually strong figures from the UK the previous year.
While the US was broadly flat, sales overall in the Americas rose marginally.
Online sales posted solid growth, led by Asia Pacific, with Burberry saying mobile transactions accounted for 40 per cent of turnover online.
By product, fashion outperformed as customers continued to respond positively to new products across categories.